Forecast for the AUD/CHF Pair 

Economic analysis of the ِAUD/CHF pair

AUD/CHF pair rose on Tuesday as markets awaited developments in the Middle East and upcoming Australian labor market and inflation data ahead of the Reserve Bank of Australia’s meeting scheduled for August 11. 

Key inflation indicators point to easing price pressures, supporting expectations that the Reserve Bank of Australia will keep interest rates unchanged in August.

Meanwhile, in Switzerland, the Swiss National Bank kept its key interest rate unchanged at 0% and reaffirmed its readiness to intervene in foreign exchange markets to curb the excessive appreciation of the franc and imported inflation, which could strengthen the Swiss franc.

Technical analysis of the ِAUD/CHF pair

The AUD/CHF pair rose today to near the 0.5650 resistance level, which represents the upper boundary of the ascending price channel on the four-hour chart and is close to the downtrend line at 0.5665.

The pair is currently trading under the influence of a bearish MACD divergence; therefore, we expect the pair to pull back from current prices toward the 0.5600 and then 0.5555 levels.

This scenario would be invalidated if the pair breaks above 0.5685.